Obama Adviser Goolsbee Outlines Campaign Attack on McCainomics

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The theme of the Bush economy has long been clear: favor the rich with tax cuts,unenforced regulation, reduced services at the expense of the middle and lower classes. The result: one of the worst recessions ever. Why: the money accumulates in the upper classes who have less need to spend. All the investment in the world does little good if consumers cannot buy your product. Meanwhile, schools, social services, infrastructure are shorted. This means less money for the middle, lower classes and the economy slows --- or less buying power. This directly harms the ecnomy. After all, 70% of GDP is in CONSUMPTION. When the average citizen doesn't have money, corporations produce fewer goods and services. Said in the vernacular (quoting Clint Murcison
TX GOP millionare): "Money is like manure. Pile it up in one place, and it stinks. Spread it around, and it does a lot of good." THE MONEY IS NOT BEING SPREAD AROUND. Consumption is not being "fertilized," and the entire economy slows.

Mark Welter of MN 3:12PM April 14, 2008

McCain is in big trouble. It doesn't matter that Obama's current economic plan is terrible, McCain's problem is that he and the GOP have too much baggage going into Nov. Just look at this one cold fact: Capital has been flowing out of the US for the last eight years when the GOP controlled both the White house and the Congress until 2007. Regardless of what the Dems say prior to Nov., nobody knows whether they actually can run the economy better than the GOP until 2012. Nobody knows. It should be clear that if the GOP can't get the job done, then the Dems should get their chance to run the economy. Just look at what we have under the GOP leadership: more regulation (e.g., SarBox), an activist Fed, falling dollar (historic low), falling housing prices, historic high food and energy prices, historic high commodity prices, biggest debt and credit crisis since the great depression, negative real returns on stocks. To elect McCain is to be satisfied with four more years of bonds and gold beating returns on activly managed assets. Whoever thinks the electorate would vote for McCain this Nov. is in denial. For better or for worse, it's time for a CHANGE.

of 11:29PM April 11, 2008

what about the guy that makes $120K, they always use the extreme rich example, we understand the payroll implications obama's ss goes right after his bases payroll obligations, Sir Austin sounds a bit high fallutin, keep him quiet

Mike IL of 5:54PM April 11, 2008